THE $1 BILLION FASHION POWERHOUSE
DEPENDING ON YOUR age, scrolling through Revolve’s Instagram account will either make you feel very connected – or very old. Chances are, if you’re in the latter camp, you won’t even have heard of American e-tailer, or ‘millennial luxury brand’, as CEO Michael Mente describes it. Though if he has his way, that’s likely to change.
Founded in LA by Mente and Mike Karanikolas in 2003, today Revolve stocks around 600 contemporary brands like Lovers + Friends and Tularosa, shipping to 150 countries with 150 new styles launching daily. Known for its trend-driven Cali-girl aesthetic, Revolve caters to ‘the millennial customer who loves to have fun, really lives her life to the fullest,’ according to chief brand officer, Raissa Gerona. Fans include millennial megastars Kendall, Gigi, Bella and Emrata.
‘I view it as the next-generation great American fashion brand,’ Mente said, during a visit to London last week (to celebrate the arrival of free shipping and returns to the UK). That might sound grandiose, but Revolve’s numbers speak for themselves. Last year, it generated sales of $1 billion.
What’s really remarkable is that Revolve credits around $650-700 million of these sales to its relationships with influencers – which the brand favours over traditional advertising. That Instagram feed is more than a shop-front for Revolve, it’s how they advertise, promote and, ultimately, sell their product. It doesn’t really matter if the clothes are any good or not; what Revolve excels at is getting its millennial clientele to buy into a lifestyle. Mente describes it as offering ‘full wardrobe for a full life’. These are clothes for girls who want to share pictures of their avo toast (‘going to brunch has become such a big thing’ says Gerona, not ironically) as well as their #Shamelessselfies.
When a lot of brands are trying to
capitalise on the commercial might of social media stars, Revolve’s been doing it since the beginning, fostering its first influencer relationship in 2009 ( before Instagram even existed). Interestingly, Revolve’s execs are still only in their mid-thirties (Mente is 37, Gerona, 35). ‘ We’re old enough to understand the past,’ says Mente. ‘But we grew up as the world was changing. The timing was so fortunate.’
In a world where social media reach is a powerful currency, Revolve is trading big. It sells by spectacle (or ‘experience marketing’) – namely expensive events and the #Revolvearoundtheworld trips, which give their network of influencers irresistible ‘content’ opportunities.
This April they hosted their own mini festival, complete with performances by A$AP Rocky and Snoop Dogg, during Coachella (the spiritual home of the Revolve customer). In 2016, they hired a mansion in The Hamptons for the whole of July (Kim Kardashian hosted an event). Last week’s trip to the UK was attended by Olivia Culpo (2.7 million Insta followers) and Victoria Justice (14.3 million), and included lunch at Cliveden, tea at The Dorchester, and a ride around London on a Revolve-branded red bus. The trip concluded with a party hosted by Winnie Harlow at Café Royal.
So, is it true Mente blew the budget on this year’s Coachella activity? ‘It depends how you define “blew”,’ he laughs. ‘But it is 100% true that it was very successful for our internal metrics’. Or to put that in plain English: hype is priceless. Revolve.com